FDJ United Cuts 2026 Targets After Nine-Month GGR Falls 2.8 Percent on Tax and Economic Headwinds

FDJ UNITED recorded gross gaming revenue of €6,264m in the first nine months of 2026, a drop of 2.8 percent. Revenue declined 5.6 percent to €2,576m. The results reflect fewer high jackpots especially for Euromillions, elevated player winnings in sports betting during Q3, reduced traffic at French points of sale amid tough economic conditions, and gaming tax increases of €62m, as reported by G3 Newswire.

The French lottery and retail sports betting unit generated GGR of €4,978m, down 3.5 percent, and revenue of €1,794m, down 4.8 percent. Lottery GGR reached €4,365m with instant games up 1.9 percent but draw games down 10.3 percent. Sports betting GGR stood at €613m, down 3.2 percent, and revenue at €297m, down 4.5 percent.

Online Performance Holds in Core Markets Despite UK and Netherlands Drag

The online betting and gaming unit posted GGR of €1,013m, down 0.8 percent, with revenue falling 8.2 percent to €619m. Excluding the Netherlands and United Kingdom, GGR rose 5.7 percent and revenue grew 0.8 percent on strength in France and Scandinavia. FDJ stated that action plans in the Netherlands and UK should enable gradual performance recovery.

The company is refreshing its lottery portfolio with additional Q4 draw events, the 2027 relaunch of Euromillions and Loto, and a new €10 instant game. A new management team for the online unit is optimizing marketing spend, improving the player experience, and accelerating deployment of a single proprietary sports betting platform across most markets by the end of 2027. Resource allocation reviews for non-core assets will conclude by early 2027 at the latest.

Adjusted 2026 Guidance and Leadership Commentary

FDJ UNITED now projects a low-single-digit decline in GGR, a mid-single-digit decline in revenue, and an EBITDA margin of 23 percent. Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ UNITED, said: “FDJ UNITED’s performance at the end of September reflects factors inherent to the gaming sector, a decrease in traffic at points of sale against a backdrop of an unfavorable economic climate, as well as the expected increase in taxation. In this challenging environment, the Group remains fully committed and is resolutely pursuing the implementation of its action and performance plans to swiftly regain a sustainable growth momentum, underpinned by innovation and the attractiveness of its product portfolio.”

Reporting: G3 Newswire

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